WASHINGTON, DC - The Sky-high Fervor Industries Alliance (SEIA) at the moment much-admired two decisions by the New Jersey Source of Ceremony Utilities (BPU) that order corroborate to intensify solar energy development happening the state. The BPU nominated to intensify two flow solar programs by Ceremony Rotation Emotional and Gas Fraternity (PSE&G) - the Sky-high Offer III program and the Sky-high 4 All Enlargement program.
These two programs order megabucks long-term contracts and development on landfills and brownfields.
Sad its Sky-high Offer III program, PSE&G order contribute up to 193 million in loans for 97.5 megawatts (MW) of new solar systems about its assist earth. The Sky-high Offer III program promotes categorization happening the SREC fair by distribution 10-year loans for Sky-high Renewable Fervor Credits (SRECs) shaped by solar systems - provisos which are inclusive fictional from a fair conquered by cure communication and unthinking contracts. The state has an occupation in promoting an above-board investment environment, like fair categorization reduces investment costs, improves the long-term probability of businesses, promotes job categorization and contributes to the concurrence of the state's RPS goals.
Sad the Sky-high 4 All Enlargement program, PSE&G order own and fix to solar generation, with 42 of the arranged 45 MW to be built on landfills and brownfields. The BPU's confer to relocate cancel with the Sky-high 4 All Enlargement, at a scale that is very well diminished from the utility's unusual 136 MW plan, responds to the clear policy supervision to body solar development on these underutilized lands, when also justifying the negative impacts of a in harmony business operating in a ruthless fair.
"Today's confer by the BPU order undoubtedly corroborate New Jersey operate the goals that Proprietor Christie laid out in his Fervor Master Relevance," supposed Katie Bolcar Rever, Manager for Mid-Atlantic States at SEIA. "Basic, it begins to oration the mutability in the SREC fair by distribution for 97.5MW of long-term SREC financing - for about 13% of the supplementary fair in the at that time three excitement. Secondly, by allowing PSE&G to invest without further ado in solar projects on brownfields and landfills, the BPU is placing a soaring priority on solar development on these lands. Nevertheless, we want tell stories in sanity that utility-direct investment is upright one way in which regulators and policymakers can line solar development in New Jersey. "
In 2012, New Jersey enacted the Sky-high Growth Act to oration imbalances happening the state's SREC fair. Sky-high companies about the state comprise faced swelling challenges as a mischievous and persistent remainder of SRECs led to the infuse copy in the care of SRECs. The implement and gear of the legislation are motionless playing out in the fair.
"Last year, New Jersey policymakers showed us that they embellish the status of the solar industry to New Jersey's economy, and they're willing to take the ladder requisite to true groovy imbalances happening the fair," Rever explained. "We comprise a forceful go down with of dedication in the distant of the New Jersey solar industry, and the extension of Sky-high Offer III and 'right-sizing' of Sky-high 4All Enlargement openly adds to that dedication."
New Jersey is promptly ranked 3rd between states in provisos of amount installed solar size, according to the recent U.S. Sky-high Knob Forethought report. The state was accountable for as good as one-third of the nation's non-residential (rule, business, and nonprofit) solar installations keep up year. In amount, in addition than 415 megawatts (MW) of solar was new to the state's power grid in 2012, a 33 percent brilliant from side to side 2011 (313 MW). New Jersey is the third state in the territory to the hit the 1GW solar sully, while California and Arizona.
Film MATERIALS:
- The Sky-high Foundation's Surpass Sky-high Jobs Map: www.solarstates.org
- U.S. Sky-high Knob Insight: 2012 Appointment in Review: www.seia.org/smi
- Proprietor Christie's Fervor Master Plan: www.seia.org/state-solar-policy/New-Jersey
- Exceptional information about PSE&G's Sky-high Offer program: http://www.pseg.com/business/builders/solar developers/index.jsp
- Exceptional information about PSE&G's Sky-high 4 All: http://www.pseg.com/family/pseandg/solar4all/index.jsp
Reply SEIA(R):
Ready in 1974, the Sky-high Fervor Industries Alliance(R) is the affirm appointment association of the U.S. solar energy industry. Sad advocacy and education, SEIA and its 1,000 tentacle companies are terrace a local solar industry to power America. As the exclaim of the industry, SEIA pot to make solar a mainstream and groovy energy source by expanding markets, removing fair barriers, augmentation the industry and refining the turmoil on the benefits of solar energy. www.seia.org
MEDIA CONTACTS:
Jamie Nolan, jnolan@seia.org, 202.556.2886
Ken Johnson, kjohnson@seia.org, 202.556.2885
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